With increasing scams under the roof of cryptocurrency mining, there are new companies that are trying their luck. MartCoin, whose domain (martcoin.io) was registered on 11th October 2017, has kept the registration details private and I could not find any lead for the domain owner’s name as well as the address of the owner.
The website is also blank when it comes to provide the details of the founder. Although the company claims to be involved in cryptocurrency mining, there were no such verifiable product or services found. The only way to link yourself with this company, is through the affiliate recruitment program.
You can join this program for free to receive the referral commission. However, to enjoy all the perks, you need to invest at least $100.
I have always warned individuals to stay away from companies that ask for your money without offering any retailable product or services. Especially, when it is not true about the company’s past and the faces that are involved in running the scheme.
MartCoin – Compensation Program
MartCoin promises daily ROI that is paid directly into the accounts of the affiliates in the form of Mart Points. There are various packages according to the investment made.
- Package 1: You need to invest $100 – $1000 for receiving daily ROI for 189 days
- Package 2: You need to invest $1010 – $10,000 for receiving daily ROI for 159 days
- Package 3: You need to invest $10,010 – $100,000 for receiving daily ROI for 129 days
- Package 4: You need to invest $100,010 – $500,000 for receiving daily ROI for 99 days
- Package 5: You need to invest $500,010 – $1,000,000 for receiving daily ROI for 79 days
- Package 6: You need to invest $1,000,010 – $3,000,000 for receiving daily ROI for 49 days
- Package 7: You need to invest $3,000,010 or more for receiving daily ROI for 29 days
The company uses lottery style spinning program to pay the daily ROIs. This spinning wheel is a digital wheel which has various ROI percentage listed on it.
MartCoin – Referral Commission
The referral commission is paid out by the funds invested by the new affiliates recruited downline, via unilevel structure.
The unilevel structure consists of one affiliate at the top. The newly recruited affiliates are placed directly under them. For example, if level 1 affiliate recruits new affiliates, they would be placed on level 2. If any affiliate from level 2 recruit new affiliates, they would be placed on level 3 and so on.
Level 7 is the last paid level and MartCoin puts a cap at that level.
- Level 1: 10%
- Level 2: 3%
- Levels 3 and 4: 1%
- Level 5: 0.5%
- Level 6: 0.3%
- Level 7: 0.2%
Jd Farrell- They rushed the ico rounds off schedule. They aren’t allowing people who bought already buy in other rounds. Trust me I’m good at this, I bought 100 at open for .50 a piece but now they won’t allow me to buy anymore. My confirmation is invalid for all the rounds there after.
May or may not be a scam, but this coins gonna get dumped hardddd at exchange. I’m out!
Kim Amt- i did many ico and every time i say this is the worst ico i find one worst than the previous, and this one IS the worst ICO …(till the next one) , so stay away they don’t respect the investors or the scheduled, they are already selling the coin planned for the 12/16/2017…. too greedy and no communication no support.
Conclusion from the above reviews
The above reviews say it all. People who invested are not happy and they are not supporting them in resolving the issue. It is not only the platform, but the support system also has loop holes. You would find many such reviews on the internet from the disgruntled customers.
I was able to find more reviews about the company that claimed that the customers were not able to withdraw their amount Ethereum. Also, there were problems in buying as well. All in all, this platform is not at all trustworthy and can collapse any time.
As you can see, the company is having worthless altcoin ICOs which are dumped into the system to help the anonymous owner get rich, the easy way. The interested customers exchange money for the Mart Point which has no value beyond the MartCoin Platform. If you are waiting for their claim for making Martcoin to reach $290 by the end of Q2-2018, to stand true, do not fool yourself. They do not have any practical plans set for the same. Their points are not publicly traded anywhere.
Their lottery system is also an illusion. To make it look alluring, they have just shifted the ROI from being fixed to variable, making sure that it does not reach above the set daily limit.
The newly invested funds are used to pay the existing ones, which makes it a Ponzi Scheme and a big red flag for all the investors.
It is no doubt that the ones who would reach out early, would be able to reap some benefits through the recruitment and ROI plans. However, soon the system will freeze leaving majority of investors without money.
This type of pyramid schemes won’t last long and would be declared scam, sooner or later. There is no guarantee, when it comes to business and those who promise for a sure return, are either naïve or not genuine.
MartCoin falls in the second category. The way it has tried to lure customers and has left them without a solution, it is a sure scam. A company with lots of untold stories, can get customers into unending loop of unanswered questions. So, stay away.
Hence, it would be practical as well as wise investing in the schemes whose owners are not hiding behind the curtain of lies.